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re: Economist Oren Cass explains the tariff madness
Posted on 4/4/25 at 10:51 am to RogerTheShrubber
Posted on 4/4/25 at 10:51 am to RogerTheShrubber
quote:
The Trump administration bastardized/lied about "reciprocal" to make you folks clap. They are not reciprocal. shite, the information he used to tabulate tariffs is false.
quote:
But that’s a theoretically valid critique with little practical purchase. The major sources of imbalance between the U.S. and its trading partners do not cancel each other out, they are all in one direction (trade deficits), and they are largely the result of trade policy. If one sees all that as a problem, as even economists are grudgingly admitting they must, then responding with tariffs—and calibrating those tariffs to the size of the imbalance—is a quite coherent approach. (For more on the debate about whether tariffs can even affect trade deficits, see “Does Trade Policy Affect Trade?”)
2
Posted on 4/4/25 at 10:52 am to dgnx6
quote:
I suspect you will disappear from here in a few months.
You are going to look foolish.
You don't know me then. I've never disappeared on here before only when I'm banned and not allowed to post.
I don't have any problem admitting if I'm wrong on something. I very well could be wrong about this and I hope that I am.
Posted on 4/4/25 at 10:53 am to Robin Masters
Th
Socialists seem to think economies should be centrally planned.
Let me ask you this. Do you actually think trade deficits are tied to the budget deficit?
quote:
e major sources of imbalance between the U.S. and its trading partners do not cancel each other out, they are all in one direction (trade deficits), and they are largely the result of trade policy.
Socialists seem to think economies should be centrally planned.
Let me ask you this. Do you actually think trade deficits are tied to the budget deficit?
Posted on 4/4/25 at 10:55 am to Robin Masters
Oh... he's gonna call you a SOCIALIST!!!
Posted on 4/4/25 at 10:55 am to BCreed1
quote:
Economist Oren Cass
Well, first of all, Cass isn't even an economist. He didn't major in Econ for his undergrad work. His BA from Williams was "Political Economy." The only econ prerequisites for that major are Micro and macro economics 101. No math, no statistics, no linear algebra, no multivariable calculus. Oh and he has a law degree from Harvard.
Posted on 4/4/25 at 10:57 am to RogerTheShrubber
quote:
Let me ask you this. Do you actually think trade deficits are tied to the budget deficit?
They are symptomatic of the same malaise brought on by a desire for that which is cheap, free and easy.
Posted on 4/4/25 at 10:59 am to BCreed1
quote:
Oh... he's gonna call you a SOCIALIST!!!
I actually agree with Roger on most things. He gets a little too attached to labels and that is his Achilles heel I’ve noticed
Posted on 4/4/25 at 10:59 am to Robin Masters
quote:
They are symptomatic of the same malaise brought on by a desire for that which is cheap, free and easy.
Thats an avoidance, but US monetary policy has caused this, not "China."
Do you think the two are absolutely linked like most of your peers here?
Posted on 4/4/25 at 10:59 am to Ten Bears
quote:
Well, first of all, Cass isn't even an economist. He didn't major in Econ for his undergrad work. His BA from Williams was "Political Economy." The only econ prerequisites for that major are Micro and macro economics 101. No math, no statistics, no linear algebra, no multivariable calculus. Oh and he has a law degree from Harvard.
It's like a podiatrist calling himself a doctor.
Posted on 4/4/25 at 11:04 am to RogerTheShrubber
quote:you're an idiot. the are reciprocal in that they are in response to trade barriers imposed on our goods in their markets. you tariff us we tariff you. as all the newly minted professional economists have noted, how are you supposed to get a reciprocal tariff rate on a place where they produce stuff you don't or cant, like bananas or whatever. The answer is you cant have reciprocal tariffs in the way you mean (you have a 20% tariff on our bananas so we have a 20% tariff on your bananas, only we don't produce bananas) because you are not producing the same shite. so you have to derive a number to use, and that number isn't even particularly important what it is because the point is not to have tariffs, its to modify their behavior to get rid of tariffs.
Misleading
Trumps tariffs arent' reciprocal.
Posted on 4/4/25 at 11:12 am to RogerTheShrubber
quote:
Thats an avoidance, but US monetary policy has caused this, not "China." Do you think the two are absolutely linked like most of your peers here?
It’s probably similar to a high earning household that is in debt due to overspending. While the spending cause the debt, it’s a lot easier to get out of debt with a high income.
But at the end of the day the wounds are self inflicted.
I typically take a 40,000 ft view of most things and my take is that a return to “America first” principles absolutely must include correcting trade imbalances rooted in unfair policy. Just bringing to our attention the fact we’re getting fricked over by a large part of the rest of the world is valuable.
Personally I’ve been fricked over by communist China in a previous professional life and I work in rural communities that have been decimated by loss of manufacturing and importing cheap shite. So maybe I’m a little more sensitive to it than most.
I won’t be convinced that a country that abandons its manufacturing is not on a downhill decline, actual and spiritual.
Posted on 4/4/25 at 11:13 am to BCreed1
Why didnt you just get the thread unrolled and post that.
Posted on 4/4/25 at 11:14 am to Robin Masters
quote:
I won’t be convinced that a country that abandons its manufacturing is not on a downhill decline,
We have not abandoned mfg in this country.
We mfg higher value products and offshore lower value that American labor cannot compete with.
Going back to manufacturing most of what we consume would be a disaster to the economy.
Posted on 4/4/25 at 11:17 am to RogerTheShrubber
Roger, I would really love to hear your plan for creating middle class self sufficiency?
I hear lots of criticisms but very few actual solutions.
I hear lots of criticisms but very few actual solutions.
Posted on 4/4/25 at 11:20 am to RogerTheShrubber
quote:
Going back to manufacturing most of what we consume would be a disaster to the economy.
I’m not sure that’s ever been a prerequisite here.
Posted on 4/4/25 at 11:23 am to DocYatesVA
quote:
Roger, I would really love to hear your plan for creating middle class self sufficiency?
I've posted it hundreds of times.
1) End protectionism. It only promotes Big Corp over small business.
2) Promote entrepreneurship over corporate cubical jobs.
3) No tariffs on imported components. as it helps small businesses compete with economies of scale.
5) Economic opportunity zones for economically stressed areas.
Cheap imports have helped poor people more than our own government.
Posted on 4/4/25 at 11:26 am to BCreed1
Saw an interview with Oren Cass before the tariffs were announced.
He came across as a level headed and thoughtful individual.
I’ll read the article. Thanks for sharing.
He came across as a level headed and thoughtful individual.
I’ll read the article. Thanks for sharing.
Posted on 4/4/25 at 11:27 am to RogerTheShrubber
Roger,
Why does your ideal global exchange scenario require an imbalance of restriction and tariffs in favor of countries we seek to trade with?
You seem to be assuming the worst of intent and outcome when all we seek is LESS central planning on the part of our trade partners, LESS restrictive polices and no tariffs.
I’m having a hard time understanding why our insistence on a level playing field is so offensive.
Why does your ideal global exchange scenario require an imbalance of restriction and tariffs in favor of countries we seek to trade with?
You seem to be assuming the worst of intent and outcome when all we seek is LESS central planning on the part of our trade partners, LESS restrictive polices and no tariffs.
I’m having a hard time understanding why our insistence on a level playing field is so offensive.
Posted on 4/4/25 at 11:29 am to AGGIES
quote:
aw an interview with Oren Cass
Read his article "Why DOGE will fail"
Posted on 4/4/25 at 11:31 am to BCreed1
quote:
Economist Oren Cass
He is about to be on Charlie Kirk's show.
https://americasvoice.news/?acpage=1607
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